Caterpillar Inc. (CAT) Elliott Wave Forecast - TradingLounge Daily Chart

Caterpillar Inc. (CAT)  Daily Chart Analysis

Caterpillar Inc. (CAT) Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave {iii} of 5

Direction: Uptrend

Details: Caterpillar stock likely formed a bottom for wave 4 and is currently advancing. Recent corrections are unfolding in three-wave structures, reinforcing a bullish short-term outlook. The market is projected to extend gains within wave {iii}, maintaining upward momentum.

Caterpillar Inc. (CAT) Elliott Wave Forecast - TradingLounge 1-Hour Chart

Caterpillar Inc. (CAT)  1-Hour Chart Analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave (i) of {iii}

Direction: Uptrend

Details: The intraday chart suggests the market is progressing through sub-waves {i} and {ii}. An impulsive rally is underway in wave (i), targeting a short-term price level around $50. A brief pullback in wave (ii) is expected, potentially offering a buying opportunity before the broader uptrend continues.

Technical Analyst: Alessio Barretta

Source: Visit Tradinglounge.com and learn from the Experts. Join TradingLounge Here 

Previous: Apple Inc. Elliott Wave Technical Analysis

VALUE Offer - Buy 1 Month & Get 3 Months!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support